Proceeds from REIT share sales hit all-time high of $3.1b

Increasing investor demand is pushing REITs on a fundrasing spree.

According to Bloomberg, REITs in Singapore are on a fundraising spree, pushing proceeds from share sales to reach $3.1b, the highest since 1999.

The REIT sector was the top institutional net buy for the first eight months of the year, drawing inflows of $211m, according to Loh Boon Chye, Singapore Exchange’s CEO.

Keppel Pacific Oak US REIT has launched a private placement of up to $103.1m on Thursday, a day after Mapletree Commercial Trust raised $918.5m through a private placement and a preferential offering.

Earlier this month, Lendlease Global Commercial REIT staged a successful debut in Singapore, surging 6.3% at the open from its offer price, the biggest jump among the city-state’s REITs in the past six years.

Read the full report here.

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